Martina Dengler, Alumni Relations Manager Munich Business School (MBS): Are there certain skills that you obtained at MBS which helped you to start your own company?
Patrick Löffler: Yes, indeed, there are some. For example: to give a presentation. When you start your own company you have to present your idea all the time. At MBS you have to give presentations all the time so I felt very well prepared. And, by the way, I’d like to take this opportunity to give some advice: the first and the last sentence of your presentation are crucial. They will be remembered by the audience and have to be perfect. And – even though it seems obvious – look at your audience during your presentation.
Martina Dengler: Which of your characteristics as a person have helped you to become a successful entrepreneur?
Patrick Löffler: Power of endurance. To keep going even when nobody believes in your idea and your company. That makes all the difference. I know many founders with great ideas who have simply given up. And there are others whose ideas aren’t that brilliant but who just kept going and they became very successful. Besides, focus on yourself and your idea, don’t let other people influence you and tell you what to do. Perseverance and patience are essential for an entrepreneur.
Martina Dengler: Would you say that Munich is a good place to start your own company?
Patrick Löffler: Yes, definitely! Simply because there are six DAX listed companies in Munich whereas in Berlin there are none. We have plenty of resources in Munich, from private equity to many universities. Apart from that, the network that you obtain at MBS helps a lot. For instance, I got to know our first business angel through one of my fellow students at MBS. We don’t talk that much about our achievements here in Munich, but we should start to do so. We don’t have to be afraid at all to compare ourselves with Berlin!
Martina Dengler: Even though there are lots of entrepreneurs among our graduates, there are also those who want to be an employee. What is important for you when you recruit?
Patrick Löffler: It’s essential that a new staff member is a good fit for our team. We absolutely follow our rule “In doubt don’t hire”. Applicants have to talk to many of our staff and if only one team member has any doubts regarding the applicant, we don’t make a job offer. We require very specific tasks that mostly have to be learnt on the job, but as a person, you just have to blend in easily.